Operator
Good morning, my name is Joelle and I ll be your conference operator today. I would like to welcome everyone to the Virtus Investment Partners Quarterly Conference Call. The slide presentation for this call is available in the Investor Relations section of the Virtus website www.virtus.com. [Operator Instructions]
Sean Rourke
Investor Relations
Thank you, Joelle, and good morning everyone. On behalf of Virtus Investment Partners, I d like to welcome you to the discussion of our operating and financial results for the fourth quarter of 2020. Our speakers today are George Aylward, President and CEO of Virtus; and Mike Angerthal, Chief Financial Officer.
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Market Recap
Anticipating strong economic and earnings gains in 2021 after the COVID-inspired recession in 2020, broad stock indices continued their hefty rally in 2020’s fourth quarter. I believe resolved political, economic, tax, and virus uncertainties inspired investors to the riskier, cyclical, and ignored parts of the market like small-caps (Russell 2000 up 31%) and value (Russell Large Value 16.2%).
From the March 23rd, 2020 lows to January 8th, the S&P 500 and NASDAQ are up 70.9% and 92.4%, respectively, reaching record highs. Historically, increased visibility/less uncertainty has provided fuel to markets as it is easier to make business decisions and model cash flows.
To this end, moderate Democrat Joe Biden has begun his peaceful transition to the White House and will lead a unified Democratic Congress, likely leading to additional fiscal stimulus, a greater push towards green infrastructure/energy, and potentially higher taxes.
/PRNewswire/ Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-manager asset management business, today announced that it will release.
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